Union Budget 2016-17

Finance Minister Arun Jaitley presented the Union Budget for 2016-17. The Budget introduced the Krishi Kalyan Cess, to be levied on all services at a rate of 0.5%. Excise duty on tobacco products other than beedis was raised from 10 to 15 per cent in a bid to penalize the use of tobacco products. An Excise Duty of 1 per cent was also imposed on articles of jewellery, excluding silver. Detailed information is available at http://indiabudget.nic.in/budget.asp